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A group of doctors has bought almost 6 acres of land in Alpharetta where they will build a new 60,000- to 100,000-square-foot medical building — financed by a Bank of America construction loan.

The doctors, part of North Fulton Family Medicine, paid $1.8 million for the land, formerly owned by Duke Realty Corp., according to Databank Inc. The doctor’s group is led in part by Dr. Thomas Bat.

Bank of America originated a nearly $9 million construction loan to develop the project. It’s a sign that construction lending, while a far cry from the easy credit days of 2004 through early 2007, is available for what lenders consider relatively low-risk projects, including health-care facilities and medical office buildings.

North Fulton Family Medicine is currently housed at 3400 Old Milton Parkway in Alpharetta.

It bought land for its new building under the name Northpoint Medical Group.

Bank of America would not comment on whether it has increased lending in recent months.

Discounters rule

A big shopping center is breaking ground in College Park — a sign that the region’s discount retail sector might be spurring a bit of recovery.

Atlanta-based Inland Atlantic Development Corp. is launching the first phase of its Old National Market Place, nearly 100,000 square feet anchored by a new LA Fitness. Other tenants will include Family Dollar, Citi Trends, and potentially Anna’s Linens.

Inland has a letter of intent with the retailer.

Its partners on the shopping center are Pointe Development and Heritage Creek Development.

If you have news for Real Estate Notes, contact Douglas Sams at (404) 249-1055 or at dsams@bizjournals.com.

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